v2.4.0.8
Document Entity Information Document
3 Months Ended
Mar. 31, 2014
Entity Information  
Entity Registrant Name ROCKIES REGION 2007 LP
Entity Central Index Key 0001407805
Current Fiscal Year End Date --12-31
Entity Filer Category Smaller Reporting Company
Document Type 10-Q
Document Period End Date Mar. 31, 2014
Document Fiscal Year Focus 2014
Document Fiscal Period Focus Q1
Amendment Flag false
Entity Common Stock, Shares Outstanding 0.00
Additional General Partnership Units Outstanding 0
v2.4.0.8
Condensed Balance Sheets (Unaudited) Statement (USD $)
Mar. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 660,006 $ 570,376
Accounts receivable 364,646 378,940
Crude oil inventory 66,329 55,308
Total current assets 1,090,981 1,004,624
Crude oil and natural gas properties, successful efforts method, at cost 55,748,749 55,748,749
Less: Accumulated depreciation, depletion and amortization (32,494,253) (31,819,541)
Crude oil and natural gas properties, net 23,254,496 23,929,208
Other assets 3,147 89,630
Total Assets 24,348,624 25,023,462
Current liabilities:    
Accounts payable and accrued expenses 37,934 33,041
Due to Managing General Partner-other, net 3,122 119,994
Total current liabilities 41,056 153,035
Asset retirement obligations 953,726 935,813
Total liabilities 994,782 1,088,848
Commitments and contingent liabilities      
Partners' equity:    
Managing General Partner 3,446,974 3,661,859
Limited Partners - 4,470 units issued and outstanding 19,906,868 20,272,755
Total Partners' equity 23,353,842 23,934,614
Total Liabilities and Partners' Equity $ 24,348,624 $ 25,023,462
v2.4.0.8
Balance Sheet Parentheticals (Parentheticals)
Mar. 31, 2014
Dec. 31, 2013
Balance Sheet Parentheticals [Abstract]    
Limited Partners' Capital Account, Units Issued 4,470 4,470
Limited Partners' Capital Account, Units Outstanding 4,470 4,470
v2.4.0.8
Condensed Statements of Operations (Unaudited) Statement (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Revenues:    
Crude oil, natural gas and NGLs sales $ 1,200,367 $ 1,667,340
Commodity price risk management loss, net 0 (487,209)
Total revenues 1,200,367 1,180,131
Operating costs and expenses:    
Crude oil, natural gas and NGLs production costs 240,173 308,500
Direct costs - general and administrative 36,253 44,649
Depreciation, depletion and amortization 674,712 901,912
Accretion of asset retirement obligations 17,913 16,573
Total operating costs and expenses 969,051 1,271,634
Operating income (loss):    
Income (loss) from continuing operations 231,316 (91,503)
Income from discontinued operations 0 220,469
Net income 231,316 128,966
Net income (loss) per Investor Partner Unit:    
Continuing operations $ 33 $ (13)
Discontinued operations $ 0 $ 31
Net income per Investor Partner unit $ 33 $ 18
Investor Partner units outstanding 4,470 4,470
Managing General Partner
   
Operating income (loss):    
Income (loss) from continuing operations 85,587 (33,856)
Income from discontinued operations 0 81,574
Investor Partners
   
Operating income (loss):    
Income (loss) from continuing operations 145,729 (57,647)
Income from discontinued operations $ 0 $ 138,895
v2.4.0.8
Condensed Statements of Cash Flows (Unaudited) Statement (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 231,316 $ 128,966
Adjustments to net income to reconcile to net cash from operating activities:    
Depreciation, depletion and amortization 674,712 1,057,122
Accretion of asset retirement obligations 17,913 20,676
Net change in fair value of unsettled derivatives 0 1,131,465
Changes in assets and liabilities:    
Accounts receivable 14,294 56,693
Crude oil inventory (11,021) 5,819
Other assets 86,483 (11,988)
Accounts payable and accrued expenses 4,893 (8,561)
Due to Managing General Partner-other, net (116,872) 0
Due from Managing General Partner-other, net 0 (42,257)
Net cash from operating activities 901,718 2,337,935
Cash flows from financing activities:    
Distributions to Partners (812,088) (2,337,935)
Net cash from financing activities (812,088) (2,337,935)
Net change in cash and cash equivalents 89,630 0
Cash and cash equivalents, beginning of period 570,376  
Cash and cash equivalents, end of period $ 660,006 $ 570,376
v2.4.0.8
General and Basis of Presentation
3 Months Ended
Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
General and Basis of Presentation

Rockies Region 2007 Limited Partnership (this “Partnership” or the “Registrant”) was organized in 2007 as a limited partnership, in accordance with the laws of the State of West Virginia, for the purpose of engaging in the exploration and development of crude oil and natural gas properties. Business operations commenced upon closing of an offering for the private placement of Partnership units. Upon funding, this Partnership entered into a Drilling and Operating Agreement (“D&O Agreement”) with the Managing General Partner which authorizes PDC to conduct and manage this Partnership's business. In accordance with the terms of the Limited Partnership Agreement (the “Agreement”), the Managing General Partner is authorized to manage all activities of this Partnership and initiates and completes substantially all Partnership transactions.

As of March 31, 2014, there were 1,785 limited partners in this Partnership (the “Investor Partners”). PDC is the designated Managing General Partner of this Partnership and owns a 37% Managing General Partner ownership in this Partnership. According to the terms of the Agreement, revenues, costs and cash distributions of this Partnership are allocated 63% to the Investor Partners, which are shared pro rata based upon the number of units in this Partnership, and 37% to the Managing General Partner. The Managing General Partner may repurchase Investor Partner units under certain circumstances provided by the Agreement, upon request of an individual Investor Partner. Through March 31, 2014, the Managing General Partner had repurchased 57.3 units of Partnership interest from the Investor Partners at an average price of $4,313 per unit. As of March 31, 2014, the Managing General Partner owned 37.8% of this Partnership, including the repurchased interest.

In the Managing General Partner's opinion, the accompanying condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of this Partnership's results for interim periods in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Accordingly, pursuant to such rules and regulations, certain notes and other financial information included in the audited financial statements have been condensed or omitted. The information presented in this Quarterly Report on Form 10-Q should be read in conjunction with this Partnership's audited financial statements and notes thereto included in this Partnership's 2013 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2013 Form 10-K and updated, as necessary, in this Quarterly Report on Form 10-Q. The results of operations and cash flows for the three months ended March 31, 2014 are not necessarily indicative of the results to be expected for the full year or any other future period.
v2.4.0.8
Recent Accounting Standards
3 Months Ended
Mar. 31, 2014
New Accounting Pronouncement or Change in Accounting Principle, Current Period Disclosures [Abstract]  
Description of New Accounting Pronouncements Adopted [Text Block]
Summary of Significant Accounting Policies

Recently Issued Accounting Standard

In April 2014, the Financial Accounting Standards Board issued changes related to the criteria for determining which disposals can be presented as discontinued operations and modified related disclosure requirements. Under the new pronouncement, a discontinued operation is defined as a disposal of a component of an organization that represents a strategic shift and that has a major effect on the organization's operations and financial results. These changes are to be applied prospectively for new disposals or components of this Partnership's business classified as held for sale during interim and annual periods beginning after December 15, 2014, with early adoption permitted. The Managing General Partner of this Partnership is currently evaluating the impact these changes will have on this Partnership's condensed financial statements.
v2.4.0.8
Transactions with Managing General Partner
3 Months Ended
Mar. 31, 2014
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
Transactions with Managing General Partner

The Managing General Partner transacts business on behalf of this Partnership under the authority of the D&O Agreement. Revenues and other cash inflows received by the Managing General Partner on behalf of this Partnership are distributed to the partners, net of corresponding operating costs and other cash outflows incurred on behalf of this Partnership.

The following table presents transactions with the Managing General Partner reflected in the condensed balance sheets line item “Due to Managing General Partner-other, net” which remain undistributed or unsettled with this Partnership's investors as of the dates indicated:

    
 
March 31, 2014
 
December 31, 2013
Crude oil, natural gas and NGLs sales revenues
collected from this Partnership's third-party customers
$
380,716

 
$
306,014

Other (1)
(383,838
)
 
(426,008
)
Total Due to Managing General Partner-other, net
$
(3,122
)
 
$
(119,994
)

(1)
All other unsettled transactions between this Partnership and the Managing General Partner. The majority of these are operating costs and general and administrative costs, which have not been deducted from distributions.

The following table presents Partnership transactions with the Managing General Partner for the three months ended March 31, 2014 and 2013. “Well operations and maintenance” and “Gathering, compression and processing fees” are included in the “Crude oil, natural gas and NGLs production costs” line item on the condensed statements of operations for continuing operations or in Note 8, Divestitures and Discontinued Operations, for discontinued operations.    
 
 Three months ended March 31,
 
2014
 
2013
 Well operations and maintenance
$
186,537

 
$
544,713

 Gathering, compression and processing fees

 
66,249

 Direct costs - general and administrative
36,253

 
44,649

 Cash distributions (1)
307,024

 
874,427


(1)
Cash distributions include $6,552 and $9,391 during the three months ended March 31, 2014 and 2013, respectively, related to equity cash distributions for Investor Partner units repurchased by PDC.
v2.4.0.8
Fair Value Measurements and Disclosures
3 Months Ended
Mar. 31, 2014
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]
Fair Value of Financial Instruments

Determination of fair value. This Partnership's fair value measurements are estimated pursuant to a fair value hierarchy that requires this Partnership to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date, giving the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. In these cases, the lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability, and may affect the valuation of the assets and liabilities and their placement within the fair value hierarchy levels. The carrying value of the financial instruments included in current assets and
current liabilities approximate fair value due to the short-term maturities of these instruments.
v2.4.0.8
Derivative Financial Instruments
3 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments Disclosure [Text Block]
Derivative Financial Instruments

This Partnership had no crude oil, natural gas or NGLs derivative activity subsequent to June 30, 2013 as all open positions were either sold or liquidated prior to that date. The following table presents the impact of this Partnership's derivative
instruments on its accompanying condensed statements of operations for the three months ended March 31, 2013:

Statement of operations line item:
 
Three Months Ended March 31, 2013
Commodity price risk management loss, net
 
 
Net settlements
 
$
644,256

Net change in fair value of unsettled derivatives
 
(1,131,465
)
Total commodity price risk management loss, net
 
$
(487,209
)
v2.4.0.8
Commitments and Contingencies
3 Months Ended
Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]
Commitments and Contingencies

Legal Proceedings

Neither this Partnership nor PDC, in its capacity as the Managing General Partner of this Partnership, are party to any pending legal proceeding that PDC believes would have a materially adverse effect on this Partnership's business, financial condition, results of operations or liquidity.

Environmental

Due to the nature of the oil and gas industry, this Partnership is exposed to environmental risks. The Managing General Partner has various policies and procedures in place to prevent environmental contamination and mitigate the risks from environmental contamination. The Managing General Partner conducts periodic reviews to identify changes in this Partnership's environmental risk profile. Liabilities are accrued when environmental remediation efforts are probable and the costs can be reasonably estimated. These liabilities are reduced as remediation efforts are completed or are adjusted as a consequence of subsequent periodic reviews. Liabilities for environmental remediation efforts are included in the line item captioned “Accounts payable and accrued expenses” on the balance sheets.

During the three months ended March 31, 2014, as a result of the Managing General Partner's periodic review, no new environmental remediation projects were identified and this Partnership's expense for environmental remediation efforts was not significant. This Partnership had no liabilities for environmental remediation efforts as of March 31, 2014 or December 31, 2013.

The Managing General Partner is not currently aware of any environmental claims existing as of March 31, 2014 which have not been provided for or would otherwise have a material impact on this Partnership's condensed financial statements; however, there can be no assurance that current regulatory requirements will not change or that unknown past non-compliance with environmental laws will not be discovered on this Partnership's properties.
v2.4.0.8
Asset Retirement Obligations Asset Retirement Obligations (Notes)
3 Months Ended
Mar. 31, 2014
ASSET RETIREMENT OBLIGATIONS [Abstract]  
Asset Retirement Obligation Disclosure [Text Block]
Asset Retirement Obligations

The following table presents the changes in the carrying amount of the asset retirement obligations associated with this Partnership's working interest in crude oil and natural gas properties:

 
Amount
 
 
Balance at December 31, 2013
$
935,813

Accretion expense
17,913

Balance at March 31, 2014
$
953,726

v2.4.0.8
Assets Held for Sales, Divestitures and Discontinued Operations
3 Months Ended
Mar. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
Divestitures and Discontinued Operations

Piceance Basin. In February 2013, this Partnership's Managing General Partner entered into a purchase and sale agreement with certain affiliates of Caerus Oil and Gas LLC ("Caerus") pursuant to which this Partnership agreed to sell to Caerus all of its Piceance Basin assets and certain derivatives. In June 2013, this divestiture was completed with total consideration for this Partnership of approximately $13.5 million. The divestiture of this Partnership's Piceance Basin assets resulted in a decrease of crude oil and natural gas properties of $23.8 million and a decrease of accumulated depreciation, depletion and amortization of $10.3 million. The sale resulted in a loss on divestiture of assets of approximately $0.5 million.
In July 2013, this Partnership distributed proceeds received for the Piceance Basin asset divestiture to the Managing General Partner and Investor Partners as follows:
 
 
Amount
Distributed to:
 
(millions)
 
 
 
Managing General Partner
 
$
5.0

Investor Partners
 
8.5

Total
 
$
13.5

 
 
 

Following the sale, this Partnership does not have a significant continuing involvement in the operations of, or cash flows from, the Piceance Basin oil and gas properties. Accordingly, the results of operations related to these assets have been separately reported as discontinued operations in the condensed statement of operations for the three months ended March 31, 2013.
The following table presents statement of operations data related to this Partnership's discontinued operations for the Piceance Basin divestiture:

Statement of Operations - Discontinued Operations
 
Three months ended March 31, 2013
 
 
 
Revenues:
 
 
Crude oil, natural gas and NGLs sales
 
$
827,421

 
 
 
Operating costs and expenses:
 
 
Crude oil, natural gas and NGLs production costs
 
447,639

Depreciation, depletion and amortization
 
155,210

Accretion of asset retirement obligations
 
4,103

Total operating costs and expenses
 
606,952

Income from discontinued operations
 
$
220,469

v2.4.0.8
Significant Accounting Policies (Policies)
3 Months Ended
Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Accounting, Policy [Policy Text Block]
In the Managing General Partner's opinion, the accompanying condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of this Partnership's results for interim periods in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Accordingly, pursuant to such rules and regulations, certain notes and other financial information included in the audited financial statements have been condensed or omitted. The information presented in this Quarterly Report on Form 10-Q should be read in conjunction with this Partnership's audited financial statements and notes thereto included in this Partnership's 2013 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2013 Form 10-K and updated, as necessary, in this Quarterly Report on Form 10-Q. The results of operations and cash flows for the three months ended March 31, 2014 are not necessarily indicative of the results to be expected for the full year or any other future period.
v2.4.0.8
Transactions with Managing General Partner Transactions with Managing General Partner (Tables)
3 Months Ended
Mar. 31, 2014
Related Party Transactions [Abstract]  
Due from (to) Managing General Partner-other, net [Table Text Block]
The following table presents transactions with the Managing General Partner reflected in the condensed balance sheets line item “Due to Managing General Partner-other, net” which remain undistributed or unsettled with this Partnership's investors as of the dates indicated:

    
 
March 31, 2014
 
December 31, 2013
Crude oil, natural gas and NGLs sales revenues
collected from this Partnership's third-party customers
$
380,716

 
$
306,014

Other (1)
(383,838
)
 
(426,008
)
Total Due to Managing General Partner-other, net
$
(3,122
)
 
$
(119,994
)

(1)
All other unsettled transactions between this Partnership and the Managing General Partner. The majority of these are operating costs and general and administrative costs, which have not been deducted from distributions.
Schedule of Related Party Transactions [Table Text Block]
The following table presents Partnership transactions with the Managing General Partner for the three months ended March 31, 2014 and 2013. “Well operations and maintenance” and “Gathering, compression and processing fees” are included in the “Crude oil, natural gas and NGLs production costs” line item on the condensed statements of operations for continuing operations or in Note 8, Divestitures and Discontinued Operations, for discontinued operations.    
 
 Three months ended March 31,
 
2014
 
2013
 Well operations and maintenance
$
186,537

 
$
544,713

 Gathering, compression and processing fees

 
66,249

 Direct costs - general and administrative
36,253

 
44,649

 Cash distributions (1)
307,024

 
874,427


(1)
Cash distributions include $6,552 and $9,391 during the three months ended March 31, 2014 and 2013, respectively, related to equity cash distributions for Investor Partner units repurchased by PDC.
v2.4.0.8
Derivative Financial Instruments Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

Statement of operations line item:
 
Three Months Ended March 31, 2013
Commodity price risk management loss, net
 
 
Net settlements
 
$
644,256

Net change in fair value of unsettled derivatives
 
(1,131,465
)
Total commodity price risk management loss, net
 
$
(487,209
)
v2.4.0.8
Asset Retirement Obligations Asset Retirement Obligations (Tables)
3 Months Ended
Mar. 31, 2014
ASSET RETIREMENT OBLIGATIONS [Abstract]  
Schedule of Change in Asset Retirement Obligation [Table Text Block]
The following table presents the changes in the carrying amount of the asset retirement obligations associated with this Partnership's working interest in crude oil and natural gas properties:

 
Amount
 
 
Balance at December 31, 2013
$
935,813

Accretion expense
17,913

Balance at March 31, 2014
$
953,726

v2.4.0.8
Assets Held for Sales, Divestitures and Discontinued Operations Assets Held for Sale, Divestitures and Discontinued Operations (Tables)
3 Months Ended
Mar. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Distributions Made to Managing General Partner and Investor Partners [Table Text Block]
In July 2013, this Partnership distributed proceeds received for the Piceance Basin asset divestiture to the Managing General Partner and Investor Partners as follows:
 
 
Amount
Distributed to:
 
(millions)
 
 
 
Managing General Partner
 
$
5.0

Investor Partners
 
8.5

Total
 
$
13.5

 
 
 
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]
The following table presents statement of operations data related to this Partnership's discontinued operations for the Piceance Basin divestiture:

Statement of Operations - Discontinued Operations
 
Three months ended March 31, 2013
 
 
 
Revenues:
 
 
Crude oil, natural gas and NGLs sales
 
$
827,421

 
 
 
Operating costs and expenses:
 
 
Crude oil, natural gas and NGLs production costs
 
447,639

Depreciation, depletion and amortization
 
155,210

Accretion of asset retirement obligations
 
4,103

Total operating costs and expenses
 
606,952

Income from discontinued operations
 
$
220,469

v2.4.0.8
General and Basis of Presentation General and Basis of Presentation (Details) (USD $)
3 Months Ended
Mar. 31, 2014
Number_of_Limited_Partners
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of Investor Partners 1,785
Managing General Partner, Ownership Interest Before Unit Repurchases 37.00%
Investor Partner Ownership Interest 63.00%
Limited Partner Units Repurchased by Managing General Partner 57.3
Average Price Paid for Units Repurchased by Managing General Partner $ 4,313
Managing General Partner Ownership Interest 37.80%
v2.4.0.8
Transactions with Managing General Partner Undistributed or Unsettled Transactions With Investor Partners (Details) (USD $)
Mar. 31, 2014
Dec. 31, 2013
Related Party Transaction    
Due from (to) Managing General Partner-other, net $ (3,122) $ (119,994)
Crude oil, natural gas and NGLs sales revenues collected from the Partnership's third-party customers
   
Related Party Transaction    
Due from (to) Managing General Partner-other, net 380,716 306,014
Other
   
Related Party Transaction    
Due from (to) Managing General Partner-other, net $ (383,838) [1] $ (426,008) [1]
[1] All other unsettled transactions between this Partnership and the Managing General Partner. The majority of these are operating costs and general and administrative costs, which have not been deducted from distributions.
v2.4.0.8
Transactions with Managing General Partner Related Party Transactions (Details) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Related Party Transaction    
Direct costs - general and administrative $ 36,253 $ 44,649
Transactions with Managing General Partner
   
Related Party Transaction    
Well operations and maintenance 186,537 544,713
Gathering, compression and processing fees 0 66,249
Direct costs - general and administrative 36,253 44,649
Cash distributions 307,024 [1] 874,427 [1]
Distribution Made to Limited Partner, Cash Distributions Paid $ 6,552 $ 9,391
[1] Cash distributions include $6,552 and $9,391 during the three months ended March 31, 2014 and 2013, respectively, related to equity cash distributions for Investor Partner units repurchased by PDC.
v2.4.0.8
Derivative Financial Instruments Derivative Financial Instruments (Details) (Commodity Price Risk Management, net [Member], USD $)
3 Months Ended
Mar. 31, 2013
Commodity Price Risk Management, net [Member]
 
Derivative Financial Instruments  
Net settlements $ 644,256
Net change in fair value of unsettled derivatives (1,131,465)
Total commodity price risk management loss, net $ (487,209)
v2.4.0.8
Commitments and Contingencies Commitments and Contingencies (Details) (USD $)
Mar. 31, 2014
Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]    
Accrued environmental remediation liabilities $ 0 $ 0
v2.4.0.8
Asset Retirement Obligations Asset Retirement Obligations (Details) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Changes in asset retirement obligations    
Balance at December 31, 2013 $ 935,813  
Accretion expense 17,913 20,676
Balance at March 31, 2014 $ 953,726  
v2.4.0.8
Assets Held for Sales, Divestitures and Discontinued Operations Assets Held for Sale, Divestitures and Discontinued Operations (Details) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Statement of Operations - Discontinued Operations    
Income from discontinued operations $ 0 $ 220,469
Segment, Discontinued Operations [Member]
   
Statement of Operations - Discontinued Operations    
Crude oil, natural gas and NGL sales   827,421
Crude oil, natural gas and NGL production costs   447,639
Depreciation, depletion and amortization   155,210
Accretion of asset retirement obligations   4,103
Total operating costs and expenses   606,952
Income from discontinued operations   $ 220,469
v2.4.0.8
Assets Held for Sales, Divestitures and Discontinued Operations Additional Information (Details) (USD $)
3 Months Ended
Sep. 30, 2013
Mar. 31, 2014
Dec. 31, 2013
Piceance Basin Assets Divested      
Proceeds received from sale of Piceance Basin assets $ 13,500,000    
Crude oil and natural gas properties   55,748,749 55,748,749
Accumulated depreciation, depletion and amortization   32,494,253 31,819,541
Piceance Basin Asset Group
     
Piceance Basin Assets Divested      
Total proceeds from Piceance Basin asset divestiture 13,500,000    
Crude oil and natural gas properties 23,800,000    
Accumulated depreciation, depletion and amortization 10,300,000    
Loss on disposal of Piceance Basin oil and gas properties 500,000    
Managing General Partner
     
Piceance Basin Assets Divested      
Proceeds received from sale of Piceance Basin assets 5,000,000    
Investor Partners
     
Piceance Basin Assets Divested      
Proceeds received from sale of Piceance Basin assets $ 8,500,000